Ethereum Whale Withdraws $50 Million ETH from Binance Awaiting ETF
An Ethereum whale has withdrawn 16,449 ETH, worth approximately $50.3 million, from Binance. This transaction occurred as the price of Ethereum surged past $3,000. According to Spot On Chain, this marks the whale’s first significant accumulation of Ether and has garnered considerable attention. The entire amount has been transferred to a new wallet and remains there. Timing of the Withdrawal The timing of this withdrawal is particularly noteworthy as it coincides with the anticipated launch of E
The cryptocurrency market is a constant battlefield, with rising and falling forces causing eye-catching fluctuations in market capitalization. Shiba Inu (SHIB) exemplifies this volatility. Over the past 24 hours, SHIB has fallen by 3.57% and is currently trading at $0.00002459. SHIB's market capitalization also reflects this trend, standing at $14.77 billion.
The "One Penny Dream" for Shiba Inu
Many investors harbor the "One Penny Dream," a strong desire to see SHIB reach one cent per token, which could potentially turn them into millionaires. This goal transcends financial hopes and has become a cultural phenomenon, fueling the popularity of memes. However, the road to $0.01 is fraught with obstacles, leading to the important question: When can SHIB actually hit the 1-cent mark?
Shiba Inu, known as the "Dogecoin Killer," is more than just a meme coin. It is a community-oriented project that has attracted millions of investors worldwide. Despite its popularity, SHIB is still far from its ambitious $0.01 target. The price movements of SHIB are influenced by many factors, including general market sentiment and the inherent volatility of meme coins.
Challenges to Reaching 0.01 USD
To reach $0.01, a significant reduction in the total supply of SHIB is necessary. With a circulating supply of over 589 trillion tokens, experts suggest that trillions of these will need to be burned. Despite the enthusiasm, major price prediction companies do not foresee Shiba Inu reaching $0.01 in the near future.
The most optimistic forecasts suggest that SHIB could reach a price of $0.0001 by 2030. This cautious outlook highlights the significant challenges SHIB must overcome to reach the 1-cent milestone.#shiba⚡ #Shibalnu #binance $SHIB
## FTX Reaches $200 Million Settlement with IRS Over Tax Bill
FTX, the bankrupt cryptocurrency exchange, has reached a tentative settlement with its largest creditor, the US Internal Revenue Service (IRS). According to a June 3 filing, FTX and the IRS agreed to settle the tax dispute for $24 billion, down from an initial request of $44 billion.
The deal is contingent on court approval of FTX's reorganization plan. Under the agreement, the IRS will receive $200 million in preferential tax payments within 60 days of the plan's approval, and $685 million in secondary claims, paid after customers and other creditors.
The agreement covers all tax claims through October 31, 2022. FTX stated that the settlement reduces litigation risk and increases certainty of recovery for creditors and customers.
While FTX does not deny the tax debt, it disputes the specific amount and reasons. They argued that funds misappropriated by former CEO Sam Bankman-Fried should not be taxed and disagreed with the employment tax calculation regarding the salaries of Bankman-Fried and other executives.
FTX also contends that it had valid deductions and losses that the IRS disallowed due to lack of documentation. However, the IRS disagrees and is willing to fight in court. #StartInvestingInCrypto #binance
# Three Altcoins to Hold for Becoming a Crypto Millionaire in 2024
With numerous new projects in the ecosystem, it's challenging to know where to start. Analysts recommend holding Pepe, Chainlink, and Rollblock due to their recent positive attention and market trends suggesting significant growth soon.
#Pepe: 87% Increase in May Pepe saw an 87% price increase in May, becoming one of the top traded cryptocurrencies, surpassing Shiba Inu. Currently trading at $0.00001503 with a 24-hour trading volume of $1.68 billion, Pepe remains a strong contender.
# Chainlink: Predicted 300% Increase Crypto analyst Poppe forecasts a 300% increase for Chainlink compared to Bitcoin, identifying a resistance level at $0.000447. Currently at $18.12, Chainlink has risen 27% over the past month and may hit $25 to $30 with continued market optimism.
#Rollblock: 40% Gains Attracting Whales Rollblock's utility token, $RBLK, increased by 40% in May. As a GambleFi protocol, Rollblock combines blockchain with online casino operations, offering over 150 games with 20+ cryptocurrencies. It also provides passive income for $RBLK holders through staking rewards, creating a deflationary effect to increase token value.
What is Hold Coin? Effective Hold Strategies What is Hold Coin? Hold coin refers to buying and holding an asset for a long period, believing its value will increase. The term "hold" or "hodl" originated from a Bitcointalk post in 2013 and has since become popular among cryptocurrency investors. Why Should You Hold Coin? 1. High Profit Potential: The right project can yield enormous profits. 2. Sustainable Income: Some coins can be staked or farmed, generating passive income. 3. Safety: Holding is considered safer than trading. 4. Less Need for Deep Knowledge: Requires less complex analysis compared to trading.
Risks of Holding Coin 1. Psychological Factors: FOMO can lead to buying at high prices. Negative news and rumors can also influence decisions. 2. Price Volatility: Market fluctuations can cause anxiety and pressure. 3. Project Risks: Projects can fail, get hacked, or face legal issues, leading to significant losses.
Guide to Safe Holding 1. Choose Reputable Projects: Opt for well-established projects like Bitcoin, Ethereum, and BNB. 2. Secure Storage: Use cold wallets like Ledger Nano S or non-custodial wallets like Metamask. 3. Two-Factor Authentication (2FA): Enhances security for your wallet.
How to Optimize Profits when Holding 1. DCA (Dollar-Cost Averaging): Buy coins at different times to minimize price risk. 2. Staking and Farming: Utilize opportunities to generate passive income. 3. Launchpad: Participate in launchpads on exchanges to leverage compound interest. Successful Holders - Changpeng Zhao (CZ): Bought a significant amount of Bitcoin and BNB since 2014. - Vitalik Buterin: Creator of Ethereum, holding over 3,000 ETH. FAQs 1. When should you hold coin? - Hold during market downturns and use the DCA strategy. 2. Which coins should you hold? - Choose coins from reputable projects like Bitcoin, Ethereum, BNB. 3. How should you allocate your holdings? - 80% in safe coins, 20% in hidden gems. Conclusion This information is for informational purposes and not investment advice.#StartInvestingInCrypto #bnb #btc #etherreum $BTC $ETH $BNB
Toncoin (TON) has had an impressive year, breaking into the top 10 projects by market capitalization. The asset recently reached a new all-time high of $7.76, showing gains of 11.8% on the daily chart, 15.6% on the weekly chart, 19.8% on the 14-day chart, and 27.6% over the past month.
This rally could be attributed to a positive shift in broader crypto market sentiment, driven by renewed expectations of an interest rate cut in November 2024 and declining inflation figures in the US, along with a weaker job market.
Bitcoin (BTC) has also surged, reclaiming the $71,000 mark with a 3% increase in the past 24 hours. The global cryptocurrency market capitalization has grown by 2.7%, reaching $2.77 trillion.
Future Predictions for Toncoin (TON)
According to CoinCodex, TON is expected to continue its upward trajectory throughout the month. The platform predicts that TON will reach $20.61 by June 30, 2024, a growth of approximately 173.34% from current levels. CoinCodex also forecasts that TON will surpass the $24 mark by early July.
The Central Bank of the United Arab Emirates (CBUAE) Board of Directors has approved a new system for the supervision and licensing of stablecoins.
During a meeting in Abu Dhabi, they discussed projects under the government's Financial Infrastructure Transformation (FIT) program, which aims to promote digital transactions, the digital economy, and innovation. The meeting was chaired by UAE Vice President and CBUAE Chairman Sheikh Mansour bin Zayed Al Nahyan, and attended by Vice Presidents Abdulrahman Saleh Al Saleh and Jassem Mohammad Al Zaabi, CBUAE Governor Khaled Mohamed Balama, and other members of the central bank board of directors.
The board approved the issuance of regulations for stablecoin licensing and supervision. According to an interview with local media Unlock Blockchain, Kokila Alagh, founder of KARM Legal Consultants, stated that these regulations clarify the issuance, licensing, and supervision of payment tokens backed by the UAE dirham.
Additionally, Alagh mentioned that payment tokens must be backed by the UAE dirham and cannot be linked to other currencies, digital assets, or algorithms. She emphasized that vendors and service providers can only accept dirham-backed tokens, excluding other virtual assets.#stablecoin #Stablecoins
Fans of former US president Donald Trump have been sending meme tokens and donations to his cryptocurrency wallet en masse since his recent felony conviction.
According to Arkham Intelligence, Trump's cryptocurrency portfolio has significantly increased in value over the past three months, peaking at over $31 million due to a surge in memecoins. His holdings are diversified across multiple tokens, including TROG, TRUMP, ETH, and WETH.
Trump's largest holding is TROG tokens, with 210.345 billion tokens valued at approximately $19 million. This represents over half of TROG's total market capitalization of $36 million, indicating a significant concentration of his portfolio in this asset.
The price of TROG has risen to around $0.0001, up more than 160% in the last 24 hours after Trump supporters discovered this memecoin in his portfolio.
The TRUMP memecoin in Trump's wallet is currently worth $7.53 million, with 579.29 thousand tokens priced at $12.8 per token at the time of writing.
Most of Trump's income from this portfolio comes from donations and projects that airdrop tokens to his wallet, along with royalties from the TRUMP NFT collection.
Despite the impressive total value of his portfolio, a significant portion of these assets are illiquid. Many memecoins, such as TROG, lack market depth and volume, which can pose challenges in realizing their full value. TROG, for instance, had a trading volume of just $19 million in the past 24 hours, making it difficult to cash out these "paper profits."
Trump's ETH holdings amount to 471.79 tokens, worth $1.79 million, while Wrapped Ethereum (WETH) holdings are 374,974 WETH, worth $1.42 million. Other notable assets in his portfolio include MVP, CONAN, BABYTRUMP, and ELON tokens. #DonaldTrump #TRUMP #binance #weth #ETHETFsApproved $ETH
According to Shiba Inu (SHIB) burn rate tracker, Shibburn, SHIB burn rates have soared by 10,990%. The platform highlighted that one particular transaction burned over 21 million SHIB tokens.
This surge in burn rates could be attributed to increased activity within the SHIB ecosystem and the implementation of various burning initiatives by the SHIB community. An increase in demand could also potentially drive up prices.
Will Shiba Inu (SHIB) Rise to $0.00006?
Historically, SHIB's burn rate has seldom led to significant price increases, likely due to the enormous circulating supply of approximately 589 trillion SHIB tokens. The number of tokens burned is relatively small compared to the circulating supply, making substantial price hikes unlikely. Nonetheless, SHIB enthusiasts and investors remain hopeful for higher prices.
According to CoinCodex, Shiba Inu (SHIB) could rise to $0.00006131 by June 25, 2024, representing a growth of nearly 157% from current levels. Furthermore, CoinCodex predicts SHIB could reach $0.00008336 by July 2, 2024, a 250% increase from current levels.
If SHIB reclaims the $0.00008 level, the asset could potentially reach a new all-time high. The popular dog-themed cryptocurrency is currently down more than 72% from its all-time high of $0.00008616, achieved in October 2021.
Changelly also predicts that Shiba Inu (SHIB) will recover in the coming days, potentially reaching $0.00003713 by June 10, 2024. If SHIB hits this target, it would represent an increase of about 55.6% from current levels.#binance #shiba⚡ #Shibalnu $SHIB
PEPE's Market Capitalization Surpasses All Major NFT Collections Combined🔍🔍🔍
Pepecoin (PEPE) has achieved a market cap exceeding $6.33 billion, which is 10% higher than the combined market cap of all major NFT collections.
Additionally, PEPE is outperforming major NFT collections in daily trading volume, with $1.3 billion recorded in the past 24 hours compared to $12.8 million for blue-chip NFTs.
Despite some positive signs, such as record-high trading volumes for Bitcoin and Solana NFTs and the NFT lending market surpassing $2 billion in the first quarter, the NFT market overall is in decline. According to Hildobby, a member of DragonFly's data team, the number of NFT traders has dropped by 85% in the past two years.
In contrast, the meme coin market has been experiencing significant growth, reaching nearly $69 billion in market capitalization after a 10% increase in a single week. PEPE, in particular, has been one of the top performers, rising 111% in a month and hitting a new all-time high on May 27.
However, NFT Price Floor analyst Nicolás Lallement suggests that once investors start taking profits from memecoins like PEPE, capital could flow back into blue-chip NFT collections, as well as Bitcoin and Ethereum. #PEPE✈ #pepecoin🐸 #pepe⚡ $PEPE
The cryptocurrency market is closely watching Bitcoin (BTC), with PEPE expected to rise further only if BTC increases significantly.
The market's volatility requires investors to handle both gains and losses well. Timing is crucial and can make or break a trader's portfolio.
Midway through the year, two cryptocurrencies are predicted to deliver nearly 50% profits. Here are the top picks for June:
2 Coins That Could Yield 50% Profits
Shiba Inu (SHIB)
CoinCodex predicts that Shiba Inu could rise by 50% this month, reaching $0.00003767. This represents a 53.90% increase from the current price of $0.00002386. A $1,000 investment today could become $1,500 if the prediction is accurate.
Pepe (PEPE)
Pepe is another cryptocurrency to watch. CoinCodex forecasts that it could gain nearly 50%, hitting $0.00002228 in June 2024. This would be a 53.46% increase from its current price of $0.00001403.
While these predictions are optimistic, the crypto market is highly volatile. There are no guarantees, and thorough research is essential before investing. #shiba⚡ #Shibalnu #PEPE✈ #pepecoin🐸 #pepe⚡ $PEPE $SHIB
$BTC $BTC $#Legendary Trader Peter Brandt Predicts Bitcoin Will Reach $150,000 Peter Brandt's Insight on Bitcoin
Renowned trader Peter Brandt recently sold his Bitcoin holdings for USD. In a blog post, Brandt discussed how Bitcoin halvings historically occur at the midpoint of bull run cycles. According to him, "the number of weeks from the start of each bull market cycle (the low after a drop of more than 75%) until the halving date is roughly the same as the number of weeks from the halving date to the next bull market high."
Based on this, Brandt predicts that Bitcoin (BTC) could reach $130,000 to $150,000 by Q3 2025. However, he noted that "no analytical method is perfect," and his prediction could be wrong.
When Can Bitcoin Regain Its All-Time High?
Bitcoin (BTC) reached an all-time high of $73,737 on March 14, 2024, after the US SEC approved 11 Bitcoin spot ETFs. Since then, BTC has dropped about 6.6%. Despite this correction, many analysts believe BTC will soon regain its peak.
CoinCodex predicts BTC could rise to $77,230 by June 6, 2024, and potentially reach $89,066 by the end of June. Similarly, Changelly forecasts BTC will hit $76,091 on June 5, 2024, and reach $87,730 by June 28, 2024.
$XRP Ripple's Native Cryptocurrency XRP: Current Status and Future Predictions
Ripple's native cryptocurrency, XRP, is trading around the $0.52 mark as of Tuesday. The cryptocurrency has shown minimal upward movement this quarter, mostly trading sideways on the chart. This price stagnation is testing investors' patience, despite XRP being among the top 10 altcoins.
Can XRP Recover in June 2024?
With XRP struggling, the question remains: can it overcome its current challenges and improve its indexes this month? This article explores potential price movements for Ripple's XRP by the end of June 2024. How High Could Ripple (XRP) Trade by June 2024?
'Price Prediction' is a price indicator based on algorithms and machine learning using artificial intelligence (AI). It calculates various indicators such as the moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), and Bollinger Bands (BB). Based on these indicators, AI has predicted the XRP price for June 30, 2024.
AI predicts that Ripple's XRP price could be $0.448403 on June 30, 2024. This suggests a potential drop of over 12% in the next four weeks. Therefore, a $1,000 investment in XRP could decrease to $880 by the end of June 2024. Given this bearish forecast, current trading in XRP carries significant risk. Investors are advised to exercise caution and avoid taking new positions in the cryptocurrency market at this time.
At the time of writing, Ripple's XRP is trading at $0.52, down nearly 0.5% in 24-hour trading. XRP is also down 85% from its all-time high of $3.40, which was reached in January 2018.
In conclusion, while XRP remains a major player in the cryptocurrency market, its current price stagnation and bearish short-term forecast suggest that investors should be cautious and consider alternative investments until more favorable conditions emerge.#XRP’ #binance
#sjiba Cryptocurrency investors are constantly looking for meme coins that have the potential to generate significant profits. As June approaches, here are three meme coins that investors can refer to: Pepe (PEPE), Shiba Inu (SHIB), and Dogecoin (DOGE).
### Pepe Coin (PEPE)
Pepe has seen an impressive 9% increase in the past 24 hours, with a 24-hour low and high of $0.00001325 and $0.00001503, respectively. Despite trading 14.06% below its all-time high of $0.00001718 reached on May 27, 2024, strong community support and the coin's growing popularity suggest that Pepe could double in value by June. As more investors explore this frog-inspired meme coin, PEPE could see a significant price boost.
### Shiba Inu (SHIB)
Shiba Inu (SHIB), often referred to as the “Dogecoin Killer,” has shown remarkable resilience amid market volatility. Currently trading at $0.00002587, SHIB is down slightly by 0.70% over the past 24 hours, with a 24-hour low and high of $0.00002565 and $0.0000269, respectively. Although SHIB is trading 70.75% below its all-time high of $0.00008845 reached on October 28, 2021, its strong community and ongoing ecosystem development suggest it has the potential to achieve a 2x return by June.
### Dogecoin (DOGE)
Dogecoin (DOGE), the meme coin that started as a joke but has since gained a massive following, continues to show steady growth. Currently trading at $0.1598, DOGE has seen a modest gain of 0.85% over the past 24 hours, with a 24-hour low and high of $0.1581 and $0.1645, respectively. Although trading 78.35% below its all-time high of $0.7376 reached on May 8, 2021, Dogecoin's strong brand recognition and growing adoption as a means of payment suggest it has the potential to double in value by June.
Pepe, Shiba Inu, and Dogecoin have emerged as the top meme coins with the potential for 2x gains in June. These meme-inspired cryptocurrencies have demonstrated strong communities, unique brands, and significant potential for price increases. #Shibalnu #Dogecoin #PEPE✈ $PEPE $SHIB $DOGE